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Readers’ faith in publications and writers relies on a belief that the information provided is true and accurate to the best of the writer’s knowledge. When I get something wrong, I owe it to you to correct myself. Today, I have that unpleasant task.
For years, I have argued that the idea of balancing the budget by eliminating government “waste, fraud, and abuse” was a canard. In 2020, I wrote that “there really isn’t that much waste, fraud, and abuse in the system.” In 2024, when President-Elect Trump announced the creation of the so-called Department of Government Efficiency, I said that the phrase was a meme with no real substance to it—Trump claimed DOGE would save money in part by…
CLICK HERE to read the FULL Maybe DOGE Was Just Looking in the Wrong Places – The Atlantic article.
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.